Wakefern sales rise 2% to $21.5B as members pour $150M into stores
Wakefern Food Corp., which owns ShopRite and The Fresh Grocer, hit $21.5 billion in sales.
The short version
- Members invested $150 million into store upgrades across the region.
- Growth slowed to 2% amid rising pressure from big box competitors.
- Check your local grocery bill as competition heats up.
Wakefern Food Corp., the Keasbey-based cooperative that runs ShopRite and The Fresh Grocer, just reported $21.5 billion in sales for its 53-week fiscal year. The numbers landed during the co-op's annual shareholders meeting at the Hilton in East Brunswick, where nearly 700 people gathered to celebrate the company's 80th anniversary.
Founded in 1946 by eight New Jersey grocers, Wakefern has grown into the largest retailer-owned cooperative in the country. That 2% bump from the prior year marks the slowest growth rate since 2021, when sales cooled after the pandemic-era spending boom. According to NJBIZ, grocery chains across the nation are facing intense pressure from big box sellers and discounters.
To fight back, Wakefern members recently poured more than $150 million into supermarket renovations and customer upgrades. That money built brand-new spaces like the ShopRite in Watchung and the Fresh Grocer in Ringwood, while expanding online delivery and pickup. The co-op also pushed its Di Bruno Bros. specialty grocery line, acquired in 2024, into all 50 states.
Wakefern Chairman Sean McMenamin told the crowd that the cooperative's future depends on thinking bigger and embracing smart growth. For your weekly cart, that means bigger stores and tougher competition right down the block. When eight local grocers pool their shopping carts, nobody else stands in the aisle.
